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9 Newark-based startups to demo technology at Prudential Center

Updated on June 26, 2017 at 4:12 PMPosted on December 7, 2016 at 8:06 AM

The logos of nine startup companies that have been provided seed money, work space and mentorship by Newark Venture Partners, a kind of civic-minded investment group and incubator led by Audible.com founder Don Katz. The companies will be demonstrating their technologies for hundreds of would-be investors on Wednesday during an expo at Prudential Arena.

The logos of nine startup companies that have been provided seed money, work space and mentorship by Newark Venture Partners, a kind of civic-minded investment group and incubator led by Audible.com founder Don Katz. The companies will be demonstrating their technologies for hundreds of would-be investors on Wednesday during an expo at Prudential Arena. (Newark Venture Partners)

NEWARK -- When nine tech startups gather at the Prudential Center Wednesday, more than 400 venture capitalists and angel investors will be closely watching the demonstrations for the next potential star.

That kind of opportunity is crucial for startups. And a malfunction could be equally disastrous.

Tom Wisniewski

"We know that happens," said Tom Wisniewski, a managing partner at Newark Venture Partners, an investment group and incubator that is nurturing the firms. "If you're going to do a demonstration in front of people, you should make sure it's going to work, or you shouldn't do it at all."

That's just one of the lessons imparted to the startups by Newark Venture Partners, which was launched in July 2015 and is chaired by Donald Katz, the founder of Audible.com, the Amazon subsidiary headquartered in Newark that produces audio books and other content.

NVP provided seed money to the nine firms and is sponsoring the Wednesday morning expo. The nine companies are part of the Inaugural Newark Venture Partners Accelerator Class.

The nine startups are:

Alphachannel -- an online marketplace that lets marketers find and contact creative studios and production companies.

Barkly -- a service that matches pet owners with nearby dog walkers who have undergone training and background checks, available with as little as 60 minutes notice.

Bowtie -- a "plug-and-play" chatbot for businesses on any messaging platform, allowing employees to order food, book appointments or make purchases from small to medium-sized businesses using text messages, Facebook Messenger or voice-enabled channels.

Dream Forward -- a service selling 401(k) plans with technology designed to help employees overcome excuses why they can't save for retirement.

KiDCASE -- a protective case for the Apple iPad said to be the only one with built-in parental controls.

The startups were given a place to work downstairs from Audible's headquarters at One Washington Park, in a 25,000-square-foot space provided rent-free by Rutgers Business School.

They were also given $100,000 and a three-month training and mentoring program.

The nine inaugural startups were chosen from among hundreds of applicants by a team that included Wisniewski and another managing partner, Dan Borok.

Both are veteran tech investors with personal ties to Newark. Wisniewski's great, great grandfather was from Newark, as were Borok's father and grandfather.

Dan Borok

Borok said the startups can take advantage of mentoring and business opportunities with large Newark-based companies like PSE&G and Prudential.

"We think Newark is a great place for them to build their business," Borok said. "There's an airport here, it's a transportation hub. They also have access to the public companies that are here."

Newark Venture Partners has a dual function, with separate funds for each: a $25 million accelerator fund to provide the kind of initial support that the nine inaugural firms are receiving; and a venture capital fund, still being raised, for profit-making investments in those start-ups deemed to be attractive enough.

"We are a for-profit venture capital fund," Wisniewski said. "But we have a second mandate, which is creating jobs, and more broadly, it's about changing perceptions in Newark."